The subject property is located just blocks away from the thriving downtown Long Beach developments and has a desirable unit mix consisting of (3) one-bedroom/ one-bathroom units and (5) studio units. Built in 1942, the subject property consists of 4,170 rentable square feet on a lot size of 6,247 square feet. It is separately metered for gas and electricity, keeping expenses to a minimum. This property is within a short distance to the hub of tourism, business, and transit that is Downtown Long Beach. This is a rare opportunity to acquire a quality, pride-of ownership asset in this outstanding rental market and would make a great addition to any investors portfolio.
The city of Long Beach continues to progress forwards and is currently experiencing major redevelopment of $2.2 billion. An example of this large scale redevelopment is the Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center will include a new city hall and the Port of Long Beach headquarters, as well as multifamily residential units. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life. Listed by Kevin King, Marcus & Millichap.